Arrival, a UK-based electric vehicle company that went public last year, has has set a lofty goal. The company aims to produce electric vehicles that cost less than other electric vehicles and competes with the prices of fossil fuel vehicles.
A lofty goal requires a bold plan. For Arrival, that means bypassing the traditional large-scale or even “giga” factory used by large automakers and instead turning to a much smaller, decentralized approach. Arrival plans to build 31 micro-factories by 2024, including one in Charlotte, North Carolina
These micro-factories allow the company to serve specific markets while keeping costs low, Arrival says. One such market is carpooling.
Arrival last year announced plans to design and build an affordable, purpose-built electric vehicle for public transit in partnership with Uber. Drivers have even been invited to join the design process for the vehicle, which is expected to go into production in the third quarter of 2023.
Now, a year later, Arrival is ready to show off her progress – and in person.
We are delighted to announce that Avinash Rugoobur, President of Arrival, will sit with us for a fireside chat alongside a prototype of the vehicle designed for Uber drivers. to TC sessions: Mobility 2022 in San Mateo, Calif., May 18-19.
While the upcoming vehicle will be the focus of discussion, expect a wide range of other topics to be covered, from Arrival’s interest in the commercial vehicle market and its micro-factory plans to its future products and whether it can ramp up vehicle production fast enough to turn its many orders and non-binding letters of intent (LOIs) into actual sales.
These current agreements represent 59,000 vehicles, including a UPS order for 10,000 vehicles with an option to purchase another 10,000. In total, the deal could be worth more than $1 billion.
We’re also curious what steps remain before we see Arrival’s buses and vans on the roads, and you can bet we’ll be asking when Arrival’s electric vehicle designed for Uber taxi drivers will arrive in the streets.
We have so many questions, and Rugoobur is just the person to provide the answers.
Responsible for the business and product strategy of the business and its international expansion, Rugoobur oversaw Arrival’s IPO in March 2021 – the UK’s largest IPO with a float of $13 billion on the Nasdaq. He also led the closing of more than $300 million in investments from blue chip investors including Hyundai, Kia, UPS and funds managed by BlackRock.
Prior to joining Arrival, Rugoobur guided GM’s $1 billion acquisition of Cruise, and he was part of the team that saw its valuation rise to $14 billion. This work was essential to accelerate AV delivery and create the OEM/startup ecosystem.
Don’t miss what promises to be a fascinating conversation with Rugoobur and an in-depth look at Arrival, a company trying to reinvent the automotive manufacturing industry and drive down the cost of electric vehicles.
TC Session: Mobility 2022 breaks the hype and goes beyond the headlines to discover how the merging of technology and transportation will affect a wide range of industries, cities, and the people who work and live there. Buy your pass today, before prices go up, and you’ll save $200!